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Cambridge Fannie Mae DUS Loan Origination Volume Increases Significantly

July 5, 2001

Cambridge Realty Capital Companies Chairman and President, Jeffrey A. Davis, reports that activity for Cambridge's HUD 232 / 223(f) senior housing and healthcare financing program continues to shine in 2001 and continues to be well received by owner and operating clients, mortgage bankers and brokers, and various other industry professionals.

"Over the last 24 months, and especially during the last 12 months, financing options in the senior housing and healthcare industries have waned due to a variety of related and non-related business issues," states Cambridge's Chairman.

"Numerous conventional lenders and Wall Street participants have abandoned senior housing and healthcare financing because of these issues and left the industry in a 'capital shortage'", states Cambridge's Chairman.

"Cambridge has taken advantage of this moment to continue to understand the needs and requirements of senior housing and healthcare owners and operators and has emphasized the training of Cambridge's growing staff in understanding the ability to communicate the HUD 232 / 223(f) financing program, as well as the needs and requirements of owners and operators.

"Additionally, Cambridge was one of the original MAP-approved lenders and continues to validate its role as a leading HUD 232 lender. We feel this is validated by more than 60 applications going through our loan approval process now."

"As a unique and specialized niche financing / investment firm, we have always viewed it as critical to offer financing products to address the needs of our current and future clients. This is a continuation of Cambridge's unique relationship-building process, The Signature Experience (TM). This is Cambridge's empowerment program for owners, operators, brokers, consultants, and financial institutions in the senior housing and healthcare business. Its purpose is to provide direction, confidence and capabilities for Cambridge business clients.

"Our deal flow is superb. We expect it to continue. We also expect to announce other new programs throughout the upcoming year," stated Mr. Davis.

In addition, Cambridge has expanded its menu of debt and equity products. Programs that have been recently introduced by Cambridge include a bridge lending program, a Fannie Mae / Freddie Mac lending alliance with American Property Financing, and a construction lending alliance, as well as expansion of its sale / leaseback and other equity-oriented lending programs.

Founded in 1983, Cambridge has emerged as a nationally recognized leader in senior housing and healthcare financing with more than 200 completed transactions worth more than $1 billion. Cambridge is currently processing and underwriting financings for an additional 100 properties, Davis said.

Cambridge is the nation's leading HUD 232 lender for refinancing, expansion, renovation and construction of assisted-living facilities and nursing homes, and is an active multi-family lender. Cambridge also has an active conventional lending program that specializes in individual and multi-facility housing refinancings and multi-facility senior living / healthcare construction credit facilities.

A new program funds acute-care hospitals and other special-use healthcare facilities.

Additional information is available by calling 312-357-1601, or by visiting
Cambridge's Web site at http://www.cambridgecap.com.

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